Canadian Cannabis Producer Tilray (TLRY) reported fourth-quarter earnings close-up today as missing estimates. But Tilray stock jumped after hours. Check back here for updates.
Estimates: Wall Street expected Tilray to report a 15 percent loss per share, according to Zacks Investment Research. The Street saw revenue for the quarter coming in at $ 17 million.
Results: Revenue came in at $ 15.5 million, a 204% gain helped by recreational sales. Tilray reported a loss of 33 cents per share, as the company spends money to grow, expand international staff and get other companies.
Average price per gram rose 5% from the previous year to $ 7.52.
"Looking in the future, we remain committed to pursuing global growth opportunities and will be disciplined in leveraging capital, especially in the United States and Europe, where we believe we have more pathways to value creation," said CEO Brendan Kennedy in a statement. 19659008] Tilray Stock, Marijuana Stocks
Tilray stock added 1% afterwards on the stock market today The stock has a trend below its 50-day moving average, a divorced investor has lost some confidence in the stock, the Tilray stock has a weak IBD -composite grade of 26 of a best possible 99.
Among other marijuana shares, Aurora Cannabis (ACB) deep 0.1% late Monday. Canopy Growth (CGC) was 0.3%. Cronos Group (CRON) was up 0.3%. Aphria (APHA) increased 0.4%.
CannTrust (CTST) was unchanged Hexo (HEXO), which reported revenue last week, rose 0.5%. Harvest ETF (MJ) was mainly flat.
Living up to Tilray Stock Valuation
Although Tilray's sales are in millions, the Wall Street company values nearly $ 7 billion. The company said in January that it would buy a cannabis cultivator that would double its production capacity. Tilray said last year that it was planned to buy what is called the world's largest hemp birth company.
Tilray has also partnered with Anheuser-Busch InBev (BUD) to investigate cannabis drinks. It also has deals in place to put hemp-derived CBD in products that can be sold in regular store stores.
But analyst Owen Bennett asked if these deals were well thought out and said investors had placed "too much value" on them. He also noted that Tilray lays some of its larger rivals in the Canadian marijuana medical market.
Canada's recreational market has been harmed by deficiency, following an increase in early demand, and what leaders have said were problems in how the provinces handled the product for stores. Meanwhile, manufacturers are still trying to get production facilities approved or run.
Tilray's CEO Brendan Kennedy, during a conference in January, also said the company "tended to believe" media reports that announced an offer of mid-October,
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